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How much power does a personal representative have?

Under the Uniform Probate Code , a personal representative has the same power over the title to property of the estate that an absolute owner would have. Although, the personal representative holds the property of the estate in trust for the benefit of the creditors and others interested in the estate. This power

What are the five duties of a personal representative?

5 Important Personal Representative Duties Lulich Attorneys Personal representative duties include hiring an estate lawyer. Get the death certificate. Obtain the will and any trust documents. Obtain letters testamentary Pay the taxes and pay creditors.

Does a personal representative have power of attorney?

Under power of attorney, your chosen agent can make healthcare and financial choices by following your guidelines. A personal representative cannot make discretionary decisions but is only tasked with carrying out administrative estate tasks.

Is a personal representative liable?

As is true with any fiduciary, a personal representative is liable for any losses resulting from actions taken in bad faith, mismanagement, or breach of fiduciary duty (including the duty not to self-deal).

What are the Duties and liabilities of a personal representative?

Duties Liabilities of Personal Representative Prudent investments. Keep estate assets separate. Interest-bearing accounts and other investments. Other restrictions. Locate the estates property. Determine the value of the property. Prepare an inventory and appraisal. Keep accounts.

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